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Old 09-17-2008, 02:36 PM   #1
MikeWaters
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Default the mortage mess is really the housing price mess

How did we get to the point where cities have median prices near a half-million dollars for homes?

Did we think this was sustainable? (yes)

Crazy, crazy, crazy.
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Old 09-17-2008, 02:56 PM   #2
Indy Coug
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Some very crude numbers how much additional home you could get for the same price, but at a lower interest rate.

Code:
Int Rate $2000/mth P&I   % Increase
8%	$274,384.10 	0.00%
7%	$302,368.72 	10.20%
6%	$335,251.14 	22.18%
5%	$374,115.58 	36.35%
4%	$420,318.89 	53.19%
Yes, it was an unbelievable systemic failure.

Last edited by Indy Coug; 09-17-2008 at 02:59 PM.
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Old 09-17-2008, 03:00 PM   #3
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your further display or moronic-ness is entertaining.

I see you dancing in the streets with a parasol within two years.
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Old 09-17-2008, 04:02 PM   #4
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Quote:
Originally Posted by MikeWaters View Post
your further display or moronic-ness is entertaining.

I see you dancing in the streets with a parasol within two years.
So you're saying that the large drop in interest rates had no major impact on the price of real estate?

I didn't claim this was the only reason.
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